CHELTENHAM, England, Nov. 7, 2024 /PRNewswire/ — In light of the UK Budget’s focus on tackling the national deficit, a landmark Court of Appeal ruling in Johnson v. FirstRand Bank could deliver a significant economic boost through potential motor finance mis-selling compensation. Backed by consumer advocates Sentinel Legal, this historic decision may return billions to the UK economy, aligning with the government’s financial objectives.

Economic Impact Comparable to PPI:

The Johnson ruling could mirror the economic lift achieved through Payment Protection Insurance (PPI) compensation after the 2008 crisis, which at its peak contributed up to 3% of the UK’s GDP. With an estimated 90% of all new cars bought using finance—often involving undisclosed or excessive costs—the ruling may affect millions of households and redirect over £21 billion back into the economy.

Government Revenue from Taxed Compensation:

This decision also presents a potential tax revenue stream for the government. Compensation could be taxed at the source, similar to PPI payouts, which generated billions for the Exchequer. This additional revenue arrives at a crucial moment when the government is under pressure to bridge the budget gap.

Sam Ward, Director at Sentinel Legal, stated, “This ruling provides a rare win-win: justice and financial redress for consumers, while also contributing to economic recovery. The parallels with PPI’s impact are striking, and we believe this case has the potential to provide the economic boost the UK urgently needs.”

Support for Consumers and Accountability for Lenders:

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For consumers, the ruling offers an opportunity to reclaim funds from lenders who used unfair finance practices, with funds likely reinvested into household budgets. The decision also signals an industry-wide call for transparency and accountability in motor finance.

Ward added, “Through compensation, we’re not only providing financial redress but putting money back into people’s pockets at a time when household budgets are stretched. This is a unique chance to genuinely support the public.”

Pathway for Claims with Sentinel Legal:

 The Johnson ruling empowers consumers to challenge lenders over unfair practices, excessive interest rates, and undisclosed commissions. Sentinel Legal, with a record of over £300,000 recovered in motor finance compensation, is offering free consultations and a no-win, no-fee service for those who may be eligible for redress.

This landmark ruling not only offers a critical pathway for consumer justice but also stands to stimulate the UK economy during a time of pressing financial need.

Contact:
Kelly Lewins
[email protected]
07960937800

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• Record 2024 sales growth in the region driven by strong performance in key markets and Ford’s freshest lineup to date.
• Mustang Mach-E and Territory Hybrid launches highlight Ford’s commitment to an electrified future in the Middle East.
• Connected services are also coming to Ford customers in the region, with the 2025 introduction of FordPass™.

DUBAI, UAE, Nov. 7, 2024 /PRNewswire/ — More customers than ever are buying Ford products across the Middle East, thanks to Ford’s extensive and freshest portfolio of vehicles and services for every lifestyle.

“2024 has been an exceptional year for Ford in the Middle East, with sales having doubled since 2022,” said Ravi Ravichandran, president of Ford Middle East. “This success is due to strong market share gains by our distributors in key countries such as the United Arab Emirates, Kuwait, Bahrain, Qatar and Saudi Arabia.”

In fact, Ford is currently the fastest-growing automotive brand in Saudi Arabia. Al Jazirah Vehicles Agencies and Mohammed Yousef Naghi Motors have accounted for 57 percent of Ford’s total business in the Middle East in the first half of the year.

“The strong performance by all our distributors has contributed to Ford achieving record sales in this important region,” Ravichandran added.

Ford’s strong product momentum comes from 15 nameplates sourced from around the world. Highlights of Ford’s new lineup of products and services include:

2025 Mustang Mach-E: The all-electric Mustang Mach-E premiers in the region next year. This performance-focused electric SUV with space for five adults embodies the Mustang legacy, boasting a 0-100 km/h time of 3.3 seconds. Available with two different battery sizes, the Mach-E has an estimated range of 350-450 Km.

“Mustang Mach E represents a landmark moment for us,” said Kay Hart, president of Ford’s International Markets Group. “It’s our first fully electric vehicle for the region and is truly one of the most exciting vehicles Ford has ever produced.”

Mustang Mach-E will join the F-150, Taurus and Ford Territory hybrids, further solidifying Ford’s commitment to offering a diverse electrified portfolio.

2025 Territory Hybrid: Territory, Ford’s best-selling nameplate in the Middle East, will arrive electrified in 2025. Available across all trims, the Territory Hybrid will combine the popular SUV’s spaciousness, safety features, and convenient design with a fuel-efficient hybrid powertrain, seamlessly blending electric power with the traditional combustion engine for maximized efficiency without compromising performance.

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2025 Expedition Tremor: For two decades, customers in the Middle East have bought the full-sized Expedition SUV for its power, capability, convenience, and comfort. The 2025 Expedition takes this legacy even further. Built by off-road experts, it has increased horsepower and torque plus Intelligent 4WD with Terrain Management System and an exclusive Rock Crawl mode. With 33-inch all-terrain tires and 10.6 inches of ground clearance, customers can conquer any terrain – from the deserts of the GCC to the most challenging trail.

Ford Connected Services: Next year Ford will accelerate the launch of Ford Connected Services with the FordPass app first in the UAE, followed by Saudi Arabia.

“FordPass will connect you to your Ford like never before – in a way that puts the ownership experience right in the palm of your hand,” Hart said. “Imagine you’re rushing to a meeting or appointment on a scorching summer day. With FordPass, you can remotely start your car and pre-cool the cabin before you even step outside.”

“Customers in today’s increasingly connected world expect personalised treatment from companies. They want solutions that make them feel productive, cared for and special,” Ravichandran said. “That’s why we’re reimagining every single part of a customer’s ownership journey. Everything we’re doing is to empower customers and make their complicated lives simpler and worry-free.”

That means offering convenient services such as online booking, pickup and delivery options in some markets. There’s also Express Service for routine maintenance so customers can get back on the road with minimal disruption to their day.

Ford’s commitment also includes establishing a new parts distribution center in the UAE, scheduled to open in January 2025. This new center will allow quicker delivery of parts to distributors, allowing Ford owners to get back on the road more quickly.

“Our lineup of innovative products and services shows just how committed Ford is to our customers, our distributors, our employees and our communities across the Middle East,” Hart said.

About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles along with embedded software that defines exceptional digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Ford employs about 175,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.

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New report highlights opportunities in AI, 5G, and satellite connectivity to bridge a 60% usage gap and unlock $170 Billion in GDP by 2030

NAIROBI, Kenya, Nov. 7, 2024 /PRNewswire/ — The mobile industry’s $140 billion contribution to GDP in 2023 is projected to reach $170 billion by 2030 if key connectivity barriers are addressed. These are insights from the flagship Mobile Economy Sub-Saharan Africa 2024 Report unveiled by GSMA today. Mobile technology is essential in supporting development goals across key sectors like healthcare, education, and finance, driving economic growth by expanding internet access and digital services.

As digitalisation accelerates, the report highlights that 4G expansion is set to drive connectivity, projected to account for half of all connections by 2030. However, a significant coverage gap remains, with 13% of the population still unreached, and a 60% usage gap affecting those who live within coverage areas but face barriers to get online, such as unaffordable devices, limited digital skills, or online safety concerns.

In addition to these connectivity challenges, the region faces high operating costs, inflationary pressures, and energy price volatility. Despite these obstacles, emerging trends such as generative AI and satellite partnerships present innovative solutions to bridge gaps across sectors. Broader API solutions, such as GSMA Open Gateway, which recently launched security APIs in South Africa, are poised to enhance digital security and simplify services as these initiatives expand regionally. Addressing these issues is essential to unlocking the socio-economic potential of mobile connectivity in Sub-Saharan Africa.

“Our findings this year reveal both the extraordinary potential and the challenges facing Sub-Saharan Africa’s mobile ecosystem,” said Angela Wamola, Head of Sub-Saharan Africa, GSMA. “To fully realise the benefits of connectivity, it is essential for operators, policymakers, and stakeholders to address affordability barriers, support infrastructure expansion, and foster collaborations that drive digital inclusion and economic impact.”

Read the full press release here.

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